Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Dolby Laboratories, Inc. (NYSE:DLB) by 30.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,138 shares of the electronics maker’s stock after selling 11,888 shares during the quarter. Federated Hermes Inc.’s holdings in Dolby Laboratories were worth $2,339,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Dolby Laboratories by 11.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,652 shares of the electronics maker’s stock worth $1,090,000 after purchasing an additional 1,253 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Dolby Laboratories by 5.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,048 shares of the electronics maker’s stock valued at $521,000 after purchasing an additional 308 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Dolby Laboratories during the 4th quarter worth approximately $1,439,000. AlphaQ Advisors LLC acquired a new position in shares of Dolby Laboratories during the 4th quarter worth approximately $291,000. Finally, NewEdge Wealth LLC increased its position in shares of Dolby Laboratories by 3.5% during the 4th quarter. NewEdge Wealth LLC now owns 38,398 shares of the electronics maker’s stock worth $3,309,000 after purchasing an additional 1,316 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a research report on Wednesday, January 31st. StockNews.com raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.

Insider Buying and Selling

In related news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $80.81, for a total value of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.54% of the stock is owned by insiders.

Dolby Laboratories Trading Down 0.9 %

DLB stock opened at $79.20 on Monday. The firm has a market capitalization of $7.57 billion, a PE ratio of 41.04 and a beta of 0.97. Dolby Laboratories, Inc. has a 1-year low of $75.87 and a 1-year high of $91.01. The business’s 50 day simple moving average is $81.62 and its 200 day simple moving average is $83.32.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. The business had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. As a group, sell-side analysts predict that Dolby Laboratories, Inc. will post 2.6 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s payout ratio is presently 62.18%.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.